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like france would be the way to go? caller: i think so. they can put a bullet lot -- a big luxury tax on the big ya chts. guest: i think it is useful to step back. what happens if we go over the fiscal cliff or get the type of deal the president is looking for? what we're talking about the top individual income-tax rate rising from 35% to 39.6%, the same tax rate we have before 2001. we do not need to be up at the 75% level. i would not advocate the go there but i think that is not really where we are and it is not where we need to be. host: we have a treat, who -- we have a tweet. they write -- host: the payroll tax is to% of income. -- guest: the payroll tax is 2% of income. the benefits of the payroll tax are larger or more important probably for low and middle income working families than they are for higher income families. that is certainly true. you have to remember that the payroll tax was a temporary provision. it actually was enacted at the end of 2010 to replace another temporary provision which was even more targeted toward low and middle income working families. i do not
for democrats. caller: how are you? good morning. well, france has a luxury tax of 75%. they're fighting a renouncing it is unconstitutional. i guess if we're going to go off the cliff, we will go off the cliff. the pen is mightier than the sword. the people that put us there, get rid of them. as all i can say. host: do you think going to a luxury tax would be the way to go? caller: i think so. the comparative luxury tax on the big yachts on the water down in florida. -- they can put a luxury tax on the yachts on the water in florida. guest: i think it is useful to step back. what happens if we go over the fiscal cliffs or even we get the type of deal that the president is looking for? what we are talking about is the top individual income-tax rate rising from 35% to 39.6%. that was the same texture that we had before 2001. -- that is the same tax rate that we had before 2001. we do not need to be up at the 75% level. i would not advocate that we go to the 75% level. that is not really where we are. that is not where we need to be. host: we hae a tweet. guest: the payroll tax is basicall
Search Results 0 to 1 of about 2

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